ECONOMY

Greek bank liquidity has improved materially, ECB’s Coeure says

Greek bank liquidity has improved materially, ECB’s Coeure says

The liquidity position of Greek banks has improved materially but the return of deposits has only started recently and remains moderate, European Central Bank Executive Board member Benoit Coeure said on Friday.

“The bottom line is that there is a much improved liquidity situation,” Coeure told a news conference in Tallinn.

He said that to further improve confidence, Greece needed to conclude future bailout reviews on schedule, including the third review by the end of this year.

Emergency central bank funding to Greek lenders dropped by 3.7 billion euros or 11 percent in August, Bank of Greece data showed.

[Reuters]

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